Corient Private Wealth LLC Reduces Stake in CubeSmart (NYSE:CUBE)

Corient Private Wealth LLC decreased its holdings in shares of CubeSmart (NYSE:CUBE) by 1.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 177,878 shares of the real estate investment trust’s stock after selling 2,422 shares during the quarter. Corient Private Wealth LLC’s holdings in CubeSmart were worth $7,622,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 289 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 389 shares during the period. Versant Capital Management Inc grew its position in shares of CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 673 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 559 shares during the period. Finally, UMB Bank n.a. raised its position in CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 351 shares during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CUBE. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target on the stock in a report on Thursday, March 6th. Royal Bank of Canada lowered their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and cut their price target for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their price objective for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Finally, Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and an average price target of $48.00.

CubeSmart Trading Up 0.1 %

NYSE CUBE opened at $42.04 on Friday. The company’s fifty day moving average price is $41.78 and its two-hundred day moving average price is $46.25. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. As a group, research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s payout ratio is 120.93%.

About CubeSmart

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.